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Updated over 6 years ago,
Is this 4-Plex deal worth doing?
This is the first deal that I'm considering. It is a 4-Plex - each unit approx 550-600 SF each; total of 2500 SF. The metrics seem to be in the range I've learned about, but it's my first deal and I'd sure appreciate far more experienced eyes to look at these numbers and tell me if you see something wrong. I hate to plunk down this much money not considering something I'm missing here. Much obliged to for taking a peek at these numbers.
Sell Price | 700,000 |
Down Payment | 125,000 |
Loan: 30 yr Fixed @ 4.5% | 575,000 |
Monthly Mort Pmt | 2,863 |
ANNUAL Rental Income | 63,600 |
ANNUAL Total Expenses | 17,483 |
ANNUAL Debt Service | 34,356 |
GRM | 1.10% |
NOI | 46,117 |
CAP Rate | 6.59% |
DSCR | 1.34 |
Cash on Cash ROI | 8.92% |
Monthly PreTax Cash Flow | 980 |
Annual PreTax Cash Flow | 11,761 |
Please let me know if more info is needed. I didn't want to cram so much data, like the detail of expenses and such, but if you want to see them, I'm happy to post them. I'm not completely certain I'm looking at all that needs to be analyzed so I welcome the schooling. THANK YOU!